Following the purchase, €15.53 billion of debt associated with the failure of Anglo Irish Bank remains with the Central Bank.

The NTMA has been moving regularly over recent years to replace the Central Bank-held bonds with money raised from investors in the current low interest-rate environment.

The debt acquired and cancelled yesterday was a floating rate treasury bond that had been due to mature on June 18th, 2047. It brings to €4 billion the amount of Anglo related debt cancelled this year.

Bought and cancelled

To date, the NTMA has bought back and cancelled debt due on dates between 2038 and 2047. A further €2.5 billion of the 2047 debt remains with the Central Bank, along with more than €13 billion of money due to be repaid on dates between 2049 and 2053.

The bank has been selling down its IBRC-connected bond holdings faster than the minimum commitment given to the European Central Bank, which had been concerned at the original debt burden and approach.